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Airbus nails down Bombardier CSeries deal in boost to jet


By Allison Lampert and Rama Venkat Raman(Reuters) - European planemaker Airbus SE has finalised a rescue deal for Bombardier Inc's CSeries jet and is expected to flex its cost-cutting and marketing muscle to revive the money-losing Canadian venture.Bombardier agreed in October to sell Airbus a 50.01 percent stake in its flagship commercial jet for a token fee of one Canadian dollar, after sluggish sales and low production rates pushed the programme well over budget. Airbus will be able to offer airlines deals by packaging the CSeries with its own jets in a challenge to rival Boeing Co and ...

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First Published: Fri, June 08 2018. 23:52 IST